ealexandernyc ealexandernyc

03-04-2018
Mathematics

contestada

What is the balance on an amortized loan of $110,000 after the first payment if the interest rate is 5.5% with a monthly P&I payment of $568?

Respuesta :

sqdancefan sqdancefan

06-04-2018

The interest due on the first payment is
.. I = Prt
.. I = 110,000*.055*(1/12)
.. I = 504.17

Then the decrease in principal resulting from the first payment is
.. 568.00 -504.17 = 63.83
and the new balance is
.. $110,000.00 -63.83 = $109,936.17

Answer Link

Otras preguntas

6 hundred thousands + 38 hundreds

If a side of a square is 1/2 ft long what is the perimeter of the square

The area of a trapezoid is 39 square millimeters. The height of the trapezoid is 6 millimeters. One of the base lengths of the trapezoidcis 5 millimeters. What

Which of the following issues is not a response to water crises in the Middle East?

Which of the following is the greatest common factor of the terms 48s5t3u2 and 40s3tu4? a. 6s2t2u b. 6s3tu c. 8s2t2u d. 8s3tu2

While studying enzyme kinetics in the lab, a scientist observed that the rate of a reaction involving enzyme amylase increased as the concentration of starch in

What does prime mean

Who was Oliver goldsmith

Australia consists of _________ states and _________ federal territories. a. six; two b. four; five c. three; six d. two; nine

Ronald Reagan appointed the first woman to the Supreme Court. What was her name? a. Ruth Bader Ginsburg c. Sandra Day O Connor b. Sonia Sotomayor d. Elena K